Pakistan stocks end higher, rupee weakens
KARACHI: Pakistan's stock exchange closed higher on Friday, with the benchmark 100-share index of the Karachi Stock Exchange up 0.96 percent or 211.38 points at 22,178.34.
Market continued its uptrend after reentering into IMF program.
Market continued its uptrend after reentering into IMF program.
Interest in oil sector also helped boost the market, a dealer said.
Pakistan Telecommunication Co Ltd rose 4.98 percent to 25.09 rupees while Oil and Gas Development Co Ltd was up 0.45 percent to 231.10 rupees.
The rupee ended weaker at 99.97/100.03 against the dollar, compared to Thursday's close of 99.86/99.93.
Overnight rates in the money market rose to 8.75 percent from Thursday's close of 7.50 percent. (Reuters)
